Beauty Salon Financing

As you’re probably aware, luxuries are the first thing that people tend to cut back on in the midst of a recession, and this can lead to big problems for businesses such as beauty salons. Whilst business isn’t as brisk as it once was you may find yourself with a few cash flow problems. Don’t concede defeat and liquidize your business; be strong and help your business weather the financial storm by looking into the different beauty salon financing options that are available to you.

What kinds of financing are available?

There are a few different types of financing available to beauty salon owners. You can always go to your local bank or credit union and ask for a loan. This is probably the most popular way of borrowing, but in the wake of the financial crisis banks have really cleaned up their act, and they’ve cracked right down on who they do and don’t lend to. It’s no longer just a case of meeting with your bank manager then leaving with the funds you need, you’ll have to fight tooth and nail for a bank loan nowadays.

There are other types of financing on offer too. You can always look into a short term solution such as an overdraft or even a credit card. The problem with these forms of financing is that they’re also hard to obtain, and it’s a very expensive way of borrowing the money that you need. Here at Mega Fund Direct USA we offer an innovative, alternative way of borrowing the cash you need; it’s called a merchant cash advance.

How does a merchant cash advance work?

You may sometimes hear people refer to a merchant cash advance as a business cash advance – they’re both the same thing though. We offer cash advances up to $1 million, so it’s abundantly clear that a cash advance is a long term, sustainable form of borrowing, and not a short term way of shoring up your business. We basically buy a portion of your future sales; you’ll repay your cash advance as a percentage of sales that you make in the future, it’s that simple! Consequently repayment terms tend to very flexible, because in those months where your business performs well you’ll pay back more, and if your business endures a very quiet month, the repayment will be dramatically less. This is ideal because it means your business won’t be over-burdened with repayments.

If you’re interested in finding out whether or not you’re applicable for a business cash advance, hop over to our application page and fill out the short form. One of our representatives will get in touch with you shortly to discuss your application and let you know whether or not we can help.

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